Graham Holdings Company 401(k) Review & Grade
The Kaplan, Inc. Tax Deferred Savings Plan for Salaried Employees
Arlington, VAEducational Services1,548 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$30Employer $ per active participant
$8,426Employee $ saved per active participant
0.07%Direct admin cost, % of plan assets
$365.6MNet plan assets, end of year
$114,149Average balance per account
Score breakdown
- Employer generosity1.7 / 503th percentile for employer $ per participant
- Low cost20.1 / 2580th percentile for low admin cost vs. same-size plans
- Employee saving13.7 / 1592th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Educational Services plans with 500–2,499 active participants (144 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 3th |
| Lower admin cost | 80th |
| Employee saving | 92th |
| Peers that auto-enroll | 37% |
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Red flags from the filing
Corrective distributions: the plan refunded $6,659 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Graham Holdings put in about $30 per active participant, below the typical peer ($1,225). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $47,058 |
| Participant (employee) contributions | $13,047,043 |
| Other contributions (incl. rollovers in) | $1,908,234 |
| Administrative expenses paid from the plan | $251,097 |
| Other admin expenses | $251,097 |
| Benefits paid out | $27,479,124 |
| Net assets, start / end of year | $310.0M / $365.6M |
| Active participants, start / end of year | 1,706 / 1,391 |
| Participants with account balances | 3,203 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Pricewaterhousecoopers LLP |
Largest service providers (Schedule C)
| Vanguard Advisers Inc. | $128,418 reported compensation |
| The Vanguard Group, Inc. | $126,479 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251007144514NAL0008137152001, received 2025-10-07, EIN 53-0182885, plan #023, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.